Reference Case Number: FOI10271
Freedom of Information: Right to know request:
Data collected as part of DP18/1 and FS19/5 on effective competition in non-workplace pensions.
The documents indicate that a data collection exercise was conducted as part of the process – 'Part A' included data collected from 117 providers, and 'Part B' included 106 providers. The document indicated that the data collection exercise identified whether schemes were closed to new members.
Based on the data collected please provide the following information:
Redefined Request (The numbers of accounts held in schemes which are closed to new members, and the AUA (assets under administration) of these accounts held in schemes which are closed to new members).
Please note that the original request can be found in Annex A. This request was refused due to cost.
FCA response:
For completion, the full text of your previous request is reproduced at Annex A.
We have processed your email in line with the provisions of the Freedom of Information Act 2000 (FOIA) and our response is below.
We can confirm that we hold the requested information, which is set out below.
We sent a data request to all providers with the relevant permissions to establish, operate, or wind-up a non-workplace pension (NWP). Full details of the data request can be found in Annex 2[1] of Feedback Statement FS19/5 on effective competition in non-workplace pensions[2].
You asked us for the number of accounts held in schemes which are closed to new members, and the AUA (assets under administration) of these accounts held in schemes which are closed to new members.
At the time of the data collection, the total number of accounts held in schemes closed to new members was 9,883,029. Total AUA in closed products was £257,893,062,628.93.